PHOENIX – The Orioles and Nick Markakis were closing in on a four-year contract that would keep the right fielder with the only team for which he has played.

Significant progress had been made toward a deal as of Thursday morning and the finish line was in sight, a person familiar with the negotiations told The Post.

The deal is likely to fall in the $44 million range and potentially contain some deferred money.

The Orioles had a $17.5 million option for 2015 that they rejected. But the industry belief has been the sides eventually would work out a new deal, largely because Markakis is considered such a favorite of Orioles owner Peter Angelos.

Markakis, who turns 31 next week, hit .276 with 14 homers last season. He had a .342 on-base percentage and recently won his second Gold Glove.